Will the Bank of England make the GBP stronger?

10:13 06.02.2019

The Bank of England will release its monetary policy summary on February 7 at 14:00 MT time.

The bank will hold its interest rate unchanged at 0.75%. We anticipate the Bank of England to provide the comments on the possible rate hikes in 2019. Last time, the BOE mentioned the Brexit uncertainty as the key problem for the UK economy and lowered the economic growth and CPI projections for the fourth quarter of 2018. As a result, the GBP fell. Let’s see if this time the central bank succeeds to support the British currency.

Similar

In December, new orders for major American capital goods suddenly slumped in the face of decreasing demand for machinery as well as primary metals, indicating a sustained deceleration in business spending on equipment, which could further impact economic…

On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…

On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…